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Wednesday, October 17, 2018

Bits & Bites

Beachwood, Ohio-based DDR Corp., a major owner and manager of open-air shopping centers, last week changed its name to SITE Centers Corp. In a related move, the company, which trades on the New York Stock Exchange, (NYSE) changed its ticker symbol to SITC from DDR. "Our new brand reflects our mission to drive sustainable growth by owning and investing in high quality communities and locations," said David R. Lukes, President and Chief Executive Officer of SITE Centers. "We are focused on maximizing the value of our centers by utilizing our company’s creativity, vision and operating capabilities to generate compelling returns." The new color scheme is quite a bit "louder" than before with a magenta-centric color scheme. The company owns a number of centers around metro Atlanta including Brookhaven Plaza in Brookhaven, Cofer Crossing in Tucker and the multi-phase Camp Creek Marketplace in East Point. The SITE website indicates that the company owns nearly 30 properties in Georgia, making it one of their largest markets by center count.

1000 Degrees Pizza will open the first of ten planned Atlanta area locations this Friday, October 19 at Marietta Trade Center on Cobb Parkway. The new restaurant will celebrate its grand opening Sunday, October 28 with free 10" pizzas to guests, and the first 10 guests being rewarded with "free pizza for a year." A second 1000 Degrees Pizza is planned for a newly built out-parcel of Roswell Corners shopping center on Woodstock Road in Roswell.

Food-service company Delaware North Uncle Monday opened an Uncle Maddio's Pizza in Terminal T at Hartsfield-Jackson Atlanta International Airport. The planned opening of the beleaguered pizza joint was previously reported on this site, but comes on the heels of yet another closure of the chain, this time in Rogers, Arkansas. The Atlanta-based quick-serve chain is dwarfed in size and reputation by industry leaders Blaze and MOD and its future outlook seems questionable.

Permits filed with the City of Atlanta confirm that Zara is in fact expanding its existing store at Lenox Square in Buckhead. The popular Spanish retailer first opened on the second floor of the Luxury Wing in the fall of 2007. The company later added a second location on the second floor of Perimeter Mall in Dunwoody. The current Zara is about 10,000 square feet and the retailer could expand by as much as about 7,000 square feet. The store would expand into the former second floor space left vacant following the January closing of Ralph Lauren. The new store, slated to open during the second half of 2019, is expected to feature a wider assortment of merchandise as well as kids' offerings.

Hyatt Hotels last week announced it was purchasing Two Roads Hospitality, a chain of about 80 hotels. ToNeTo Atlanta reported in September that Two Roads plans to bring its Thompson Hotel brand to Atlanta with a hotel planned for Buckhead Avenue at East Paces Ferry Road in partnership with Loudermilk Companies.

Jamestown, which earlier this year purchased Parkaire Landing shopping center in East Cobb from Retail Planning Corporation, recently closed on its acquisition of both The Exchange at Hammond and Parkside Shops, adjacent centers on Roswell Road in Sandy Springs, previously owned by Mimms Enterprises. Exchange at Hammond is anchored by an actively renovating Whole Foods Market while Parkside Shops is anchored by the recently re-christened The Springs Cinema & Taphouse and a large Tuesday Morning, among others. Together, the two centers occupy more than 25 acres, according to a sales flyer for the properties. The flyer calls the centers a "generational opportunity." The properties had reportedly been owned by the Mimms family for more than 40 years. This marks the second big sale for Mimms following their late 2015 sale of a multi-center portfolio to Stream Realty. That sale included neighboring Sandy Springs centers City Center Crossing (then known as Marshalls Plaza) and North River shopping center, among others. The sales price for the recent Jamestown purchase has not been disclosed, but real estate sources indicate it was likely in excess of $50 million.

Tiki Iniki will celebrate its official opening today at 1044 Greenwood Avenue in Virginia Highland. The Supper Club Restaurant Group licensed the concept from Michele Rundgren and her musician husband Todd, who opened the original in Kauai, Hawaii, in 2013. Plans call for Tiki Iniki to open for dinner and late-night service Tuesdays through Fridays. It will offer brunch and dinner Saturdays and Sundays.

Bath & Body Works will celebrate the grand re-opening of their newly remodeled store at Atlantic Station this coming Friday, October 19. The store now features an in-house White Barn Candle Co. shop-in-shop and the brand's latest design elements.

Arby's will this Saturday, October 20 offer a limited time offer (LTO) duck sandwich at 16 locations. The Atlanta-based restaurant will offer the sandwich at just one local restaurant, 4415 Roswell Road, in an out-parcel of The Fresh Market shopping center on the cusp of Buckhead and Sandy Springs. As with prior LTO offerings, the item will be available in limited quantities while supplies last. The sandwich will cost $6.99.

Highland Bakery & Kitchen, a new concept from the owners of Highland Bakery, will celebrate its grand opening next Wednesday, October 24 in Peachtree City. The new restaurant will open in The Avenue Peachtree City in a 3,350 square foot space vacated this past March by Thai Spice, a restaurant that had occupied the space for sixteen years. The new restaurant will be open seven days a week, offering breakfast, lunch, dinner and weekend brunch. The restaurant will also feature a full bar.

Metro Atlanta's newest Planet Fitness location at the West End Mall is now open at 854 Oak Street. The club features: state of the art cardio equipment, expansive strength and free weight equipment, and free unlimited fitness training, among other offerings. Additionally, the Black Card Spa offers a total body enhancement machine featuring red light therapy to help firm and tone; and HydroMassage beds and loungers, massage chairs, and tanning. The New Hampshire-based franchise now has more than 30 gyms in metro Atlanta.